Legal & General Share Discussion Threads

[scrwal] 24/9/2024 13:39

I always check my ii accounts after 5pm as that is when all the auction action has been cleared and prices are the final closing ones.

[marktime1231] 24/9/2024 11:51

A useful reminder that the combination of Investment Management with Capital means the business is now called Asset Management.

The appointment of Adler signals a shift towards a higher risk higher reward investment strategy, his background is in real estate and private equity, not bonds, fixed income or stock markets. A greater proportion of LGENs trillion pounds of assets are going to be put to work harder, where things historically have been too safe, complacent, wasteful even. Just because you don't need to generate high returns to cover liabilities and earn fees doesn't mean you shouldn't. By all means keep most of it in turgid triple A government bonds etc but then aim higher with the rest. More focus on growth and generating profits. Maybe not distracted so much by social-minded stuff.

Good.

[mcunliffe1] 24/9/2024 10:05

I'm with ii as well - have been since about March 2023 when I took control of my pension pot from Std. Life and placed it in a SIPP.

the first time I logged on just after 4:30pm and saw the full SIPP valuation I nearly had a heart attack. then I saw the warning banner message about the auction prices.

These days, I make a simple note of the total SIPP gain (not the total value mind) after that auction on my desk jotter pad. It makes for interesting reading seeing how back in Nov 2023 that value was -£7469 and last night it was +£10100.

Thanks cfro for the explanation - I can actually understand it and hence now appreciate what is happening.

[netcurtains] 24/9/2024 09:12

cfro: I've looked at LGEN price over a few years. Its always higher at 4:30pm-4:36pm on ii than bid or offer price. Its about 10% higher. Logon tonight at 4:30pm and take a look. It will be about 10% bigger.

Of course the auction price might ALWAYS be higher by 10% - I have no idea.

It never fails to cheer me up!

[cfro] 24/9/2024 08:21

netcurtains, I'm with ii and i never look at my account after 4.30pm because of the pricing discrepancies.

Quite a while ago i pulled ii up on this and they said their pricing software was set as such to mid-price after the close whereas during the day it was set to bid-price for the stocks you held.

LGEN is a sets traded stock. There are usually auctions at 4.30 - 4.35pm and i think that means that prices of these types of stocks are therefore set to the mid-price of the auction. Theoretically that could be anywhere..

[cwa1] 24/9/2024 06:07

Legal & General appoints new Asset Management Chief Executive


Eric Adler will join L&G's Group Management Committee in December to spearhead growth plans for its asset manager



António Simões, Group CEO, L&G, said:

"In June we set out our ambition to deliver sustainable growth, sharper focus and enhanced returns as a simpler, better-connected L&G. Asset Management is the cornerstone of our growth strategy, and highly synergistic with our Institutional Retirement and Retail businesses.

"In a competitive global search, Eric stood out for his growth orientation - bringing a track record of building businesses alongside broad investment expertise, deep international experience, and a strong client focus. I am delighted to be welcoming him to the Group.

"Eric will join an excellent team that is showing great momentum, and I am confident that this will continue to accelerate under his leadership. I'd like to thank Michelle Scrimgeour for driving our asset management strategy and execution over the last five years, establishing the strong foundations and reputation we will now build on in our next phase of growth."

[geckotheglorious] 23/9/2024 19:47

Shtum, or Schtum apparently Jubbers.
Concur with the sentiments however.

[yf23_1] 23/9/2024 18:04

Simple, don't use II

[jubberjim] 23/9/2024 17:41

Back in the day there was a phrase in common parlance

'SIT ON IT'

I am very much in favour of that particular sentiment,

Staying sctumn suggest a few others do likewise.

This and others are going nowhere in the short term

Chill

[netcurtains] 23/9/2024 17:02

1robbob: The amount is so large (roughly 10% ) that this is the only thing that makes sense - unless someone else has a valid reason for this constant 10% jump in price of LGEN and other high dividend stocks between 4:30pm and 4:35pm on every single working day on ii....

[1robbob] 23/9/2024 16:17

netcurtains
!!!!
No way would they add the 'Dividend Yield'
Perhaps during the day they use the Bid price and at the end use the Mid or Offer price?

[netcurtains] 23/9/2024 15:37

PS - If you use II and look at LGEN share price between 4:30pm and 4:37pm I have noticed that LGEN profit column goes right up (and some other stocks)...

I think I have worked this out. In those FIVE OR SO MINUTES they add the dividend yield on so you get to see what your profit would be if that dividend yield was paid today...

Its nice to see.

Then by about 4:40pm it all goes.. Alas...

[marktime1231] 23/9/2024 14:25

The CALA deal for cash, albeit much of it deferred, is a better deal than swapping it for Persimmon shares. And, despite improving profit performance at CALA, selling up to redeploy capital for core business where the returns are way higher makes financial sense. The disappointment is we don't get a windfall.

The £200M buyback programme is pathetic, so trivial it looks like it barely cancels out share issues, looking at tvr movement over the year we have made no net gain. Simoes has not hinted to increase the rate, just to extend the programme.

Reducing dividend progress to 2% is disappointing but is probably all that can be sustained alongside meeting the capital demands of writing new PRT business and an ongoing buyback.

Where good news is going to come from is not clear. Having the guts to deploy more of the solvency surplus? A boost from mortality releases? A turnaround in the dreadful performance of the very low-risk very low-reward Investment Management division? If Simoes can't improve the bottom line the focus will turn to cost efficiencies.

Meanwhile we can be hopeful that an 8-9% yield is covered, and take advantage of further share price weakness. Have some cash at hand in case we hit the 210s again before next year's big dividend season. It might be the last chance to trade at this depressed level.

[jubberjim] 23/9/2024 14:04

Peat p'orf

[pierre oreilly] 23/9/2024 14:00

Trev, I thought someone already explained about the highly complex 'your' and 'you're'? Oh well.

[1robbob] 23/9/2024 13:21

drectly
The dividend policy that the BOD have announced is for a 2% increase in the Dividend per Share
So any reduction in the share capital resulting from buybacks, although it will reduce the total dividend cost, will not effect the dividend per share.
2% increase in the Dividend per Share for the ext 2 years. No more no less

[pierre oreilly] 23/9/2024 12:42

The thing about Trev is his surprising ability, or likely luck, that he can count to three.

[theinquisitiveone] 23/9/2024 12:40

Despite the grammmmer

LOL, that's priceless. You couldn't make it up. I'll leave that post as a monument to your intellectual genius 😊

[123trev] 23/9/2024 12:30

Despite the grammmmer I could always run circles around you at every level our posts confirm that. dearie me.

[jubberjim] 23/9/2024 12:05

Just seen the admonishment